The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1887-09-01
CONDITION OF THE MARKETS
A More Hopeful Outlook for Wheat Re-
suits in an Increase of Firmness.
Corn Moderately Active, with Few and Small
Fluctuations-0ats Easy and LOwer-Pr0-
visions Firmer Under Fair Demand.
MONEY, BONDS AND STOCKS.
Two Surprises That Caused Material Ad
vances In the Prices of Securities.

Two Surprises That Caused Material Ad-
vances In the Prices of Securities.
NEW YORK, Aug. 31.-Money call was
more active at to per cent, the last loan
being made at per cent. closing at 6 bid.
Prime mercantile paper, 709 per cent.
Sterling exchange was dull at s480t for
sxty-day bills and 81 83s for demand.
The total sales Of stocks to-day were 429, GA
shares including the following: Delaware,
Lackawanna g. Western. $3.50; Erie, 5000;
Kansas & Texas, $780, Lake Shore, 13, 235;
Louisville g. Nashville, II, $50; Missouri Pacific,
5000; North western, 1850; New Jersey Gen.
trail, 61I5; New York Central. $3.50; Northern
Pacific, 1000; Northern Pacific preferred. 9. 7l9;
Oregon 81 Transcontinental, 24,675; Reading,
81, 600; St. Paul, 45012 ST. Paul e. Omaha,
$780, Texas Pacific, $780, Union Pacific, 13. ITO;
Western Union. 3,s68.
Wall street was treated to a couple of genuine
surprises to-day, and as the effect Of these was
TO enhance the value OF certain stocks very ma
terialy as we'll as to put new face upon the
speculative situation, the temper of the market
underwent sudden and violent change for the
better Early in the day 1t was officially an
aounced that the Baltimore 6 Ohio Express had
been sold to the United States Express Com
pany The latter company's stocks jumped 81
per cent from yesterdays price. and the street
jumped to the conclusion that the other
Baltimore & Ohio properties were also
disposed Of thus settling the great deal.
great rush to cover followed, and
with the more confident buying by the bulls,
prices shot up rapidly. The announcement fol-
lowed that Oregon & 1rans-contir entail, by
disposing of some of its treasury securities. had
settled its debts and placed itself upon a firm
basis Oregon Navigation responded with
jump of per cent, and the general list sympa-
tbZed. check was given TO the advance oy a
renewal % the selling in Manhattan. and It's
price touched lower figures than had yet been
obtained. and though IL rallied later, stands
alone this evening in showing a net decline.
The market recovered from this shock, however,
and the feeling this evening is more cenfdent
than for many weeks. In the general liss, Read
ing, St. Paul and Western Union were
most conspicuous, but the entire
list was very strong and active throughout
The opening active, but irregular, and the
same tactics that had been pursued yesterday
caused fractional decline in the early dealings.
The change came quickly. however, and with an
extremely active trading prices shot up from
1 to % per cent. in half an hour the Oregon
stocks being most prominent Before noon
these were Joined by Western Union and the
Northern Pacifcs. and further progress was
made toward higher figures After that time
moderate reaction occurred and the market
quieted down. Manhattan being the cause of
the change; but in the last hour the bulls"
again came to the front and the close was active
and strong at or near the best figures
of the day. Manhattan - down II,
principal advances being Oregon Navigation. 81;
Northern Pacific preferred, 81 jersey Central,
81; Western Union, %; Wheeling & Lake Erie,
Oregon & Transcontinental, and Erie preferred,
q; Lake Erie e. Western preferred, Louisville
% Nashville. and Union Pacific, %, and Lake
Shore, 2.
Railroad bonds were slightly more active, and
while heavy to weak in the morning, Afterward
participated in the general advance. and ma
iorityof issues showed net gain for the day;
sales $500, goo.
Government bonds we re- dull and steady.
State bonds were dull and featureless Clos
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